Such would include the management of salary implications and other expenses related to head counting. It must also do a detailed monitoring of expenditures across a wide range of areas such as supplies, facilities, equipment and telecommunications. The problems inherent in alignining projected sales and expenses, analyzing a business for profit and cost projects against multiple dimensions and producing accurate projections outstrip the capabilities of most budgeting and forecasting systems. You can use payroll deductions and bonus incomes, looking around for the best interest rates, and improving your spending habits. You can add up to your savings by doing little things that can help you: save lunch and coupon money, take advantage of sales, saving your loose change, and being willing to compromise especially when there are other bills that call for your attention and money. Budgeting Process Challenging Yet Critical For managers in today s business world and ordinary people leading their respective households, it is essential to have a working knowledge of finance. You play a role in your organization s finances, whether you realize it or not. For those who don t have training or a background in finances, you may be at a disadvantage as you sit around the management table without any knowledge in budgeting process. The extra you save could be used to buy another video or or towards something that you really need, or want. 6. ASK FOR DEBT RESTRUCTURE OR AVAIL OF AMNESTY PROGRAM Take advantage of the amnesty program that banks and credit card companies offer. Most especially for the credit card companies, they offer payment of principal amount less the padded interest. Then, slowly begine to increase the amount each month. And if it is your child's education you're saving for, you'll need to be a little wiser and start a little bigger than that now: Alwayas assume that you will need to save between $115 and $284 a month. This estimate starts when your baby is born. Analysis There is a need for you to analyze possible revenue and expenses for the next year, and at the same time, decide on one set of revenue and expenses to represent your expectations. 3. Record and communicate the budget. Comparing your budgeted and actual results will help in evaluating whether you truly were sticking to your budget or not.